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https://innago.com/requiring-lease-guarantor/ A guarantor is an individual or entity that agrees to take on a financial responsibility on behalf of another party. This commitment typically involves ensuring the repayment of a loan or fulfilling a contractual obligation if the primary borrower or party fails to do so. Guarantors are often required when a borrower has insufficient credit history or a less-than-stellar credit score, providing lenders or creditors with additional security. Being a guarantor involves assuming a legal obligation, potentially facing financial liability if the borrower defaults. Thus, it's a significant decision and requires a thorough understanding of the terms and potential consequences before agreeing to act as one.